Yep. People blame companies, but ultimately they are doing what the customer 'wants'. Same with things like separate fees for credit cards, or shipping. Customers don't like seeing an extra fee, so companies roll it all together - even if it often means they end up paying more in the long run.
the customer doesnt want higher prices or smaller items. This is a dirty trick to try and make customers not notice that the quality is worse
ultimately the company is taking part in the government's goal to keep a certain level of inflation, rather than just its own desire to screw customers and make the number go up. If the government wasnt in on it, there would be regulations around shrinkflation